Latest news with #HBI
Deccan Herald
08-07-2025
- Business
- Deccan Herald
Jindal Steel Duqm to start Oman-based 5 MTPA green steel plant in 2028
New Delhi, Jindal Steel Duqm, a part of Naveen Jindal Group, aims to start operations at its upcoming 5 million tonnes per annum (MTPA) hydrogen-enabled green steel complex at the Special Economic Zone in Duqm (SEZAD) in Oman by 2028, a company executive plant is being developed in two phases at a total investment of approximately USD 3 billion (around Rs 25,000 crore), the official to be one of the world's most advanced hydrogen-ready steel facilities, it will initially run on natural gas but will be capable of switching to green hydrogen once the supply infrastructure complex will consist of two Direct Reduced Iron (DRI) modules of 2.5 MTPA each. While the first unit will be operationalized by December 2028, the second unit is scheduled for commissioning by 2030. Both DRI units are engineered to be hydrogen-ready from day to a senior company executive, Jindal Steel Duqm has informed the Government of Oman that hydrogen will be injected into the DRI process as soon as regular supply is ready, and the equivalent amount of natural gas will be phased out. The company expects to start hydrogen injection by 2033, with 10-15 per cent hydrogen usage targeted by green hydrogen required for this transition is expected to come from multiple renewable energy and green hydrogen projects being developed in Duqm by the Government of Oman and private investors. These projects are likely to be operational by 2033, ensuring a domestic and sustainable supply source for the steel the outset, the plant will produce Hot Briquetted Iron (HBI) and DRI with a low carbon footprint to cater to the growing demand for low-emission raw materials, particularly from steelmakers in Europe. The use of Electric Arc Furnace (EAF) technology in combination with the DRI route will allow for a more flexible and cleaner steel production Naveen Jindal Group had signed a Memorandum of Understanding (MoU) and land allocation agreement with the Government of Oman in 2022.
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Business Standard
08-07-2025
- Business
- Business Standard
Jindal Steel Duqm to start Oman-based 5 MTPA green steel plant in 2028
Jindal Steel Duqm, a part of Naveen Jindal Group, aims to start operations at its upcoming 5 million tonnes per annum (MTPA) hydrogen-enabled green steel complex at the Special Economic Zone in Duqm (SEZAD) in Oman by 2028, a company executive said. The plant is being developed in two phases at a total investment of approximately $3 billion (around Rs 25,000 crore), the official said. Designed to be one of the world's most advanced hydrogen-ready steel facilities, it will initially run on natural gas but will be capable of switching to green hydrogen once the supply infrastructure matures. The complex will consist of two Direct Reduced Iron (DRI) modules of 2.5 MTPA each. While the first unit will be operationalized by December 2028, the second unit is scheduled for commissioning by 2030. Both DRI units are engineered to be hydrogen-ready from day one. According to a senior company executive, Jindal Steel Duqm has informed the Government of Oman that hydrogen will be injected into the DRI process as soon as regular supply is ready, and the equivalent amount of natural gas will be phased out. The company expects to start hydrogen injection by 2033, with 10-15 per cent hydrogen usage targeted by 2035. The green hydrogen required for this transition is expected to come from multiple renewable energy and green hydrogen projects being developed in Duqm by the Government of Oman and private investors. These projects are likely to be operational by 2033, ensuring a domestic and sustainable supply source for the steel plant. At the outset, the plant will produce Hot Briquetted Iron (HBI) and DRI with a low carbon footprint to cater to the growing demand for low-emission raw materials, particularly from steelmakers in Europe. The use of Electric Arc Furnace (EAF) technology in combination with the DRI route will allow for a more flexible and cleaner steel production model. The Naveen Jindal Group had signed a Memorandum of Understanding (MoU) and land allocation agreement with the Government of Oman in 2022. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Wire
25-06-2025
- Business
- Business Wire
PRIMERICA HOUSEHOLD BUDGET INDEX™: Spending Power Moderately Improves for Middle-Income Families as Average Earned Income Rises Above Cost Increases of Everyday Necessities
DULUTH, Ga.--(BUSINESS WIRE)--The latest Primerica Household Budget Index™ (HBI™) data, a monthly economic metric that examines how inflation and wage trends impact the ability of middle-income families to afford life's everyday necessities, was 100.1% in May, a 0.4% increase from a month ago and up 1.5% from a year ago. Purchasing power improved slightly in May as the average earned income of middle-income households rose more than the increase in the cost of necessity items. The Consumer Price Index (CPI) that measures inflation for a comprehensive basket of goods for all U.S. households came in at 2.3% in May. Over the past twelve months ending in May, middle-income households saw a 2.8% rise in the cost of all items and a 2.5% rise in the cost of necessity items used in the HBI™ (food, utilities, gas, auto insurance, and health care). For more information on the Primerica Household Budget Index™ metric, visit About the Primerica Household Budget Index™ (HBI™) The Primerica Household Budget Index™ (HBI™) data is constructed monthly on behalf of Primerica by its chief economic consultant Amy Crews Cutts, PhD, CBE ®. The index measures the purchasing power of middle-income families with household incomes from $30,000 to $130,000 and is developed using data from the U.S. Bureau of Labor Statistics, the U.S. Bureau of Census, and the Federal Reserve Bank of Kansas City. The index looks at the cost of necessities including food, gas, auto insurance, utilities, and health care and earned income to track differences in inflation and wage growth. Primerica's HBI™ metric was created to fill an information void around the economy's impact on middle-income families. Metrics like the Consumer Price Index (CPI) measure overall inflation but don't offer a clear picture of how it impacts middle-income Americans. Middle-income households play a key role in driving consumer spending and the overall economy as they account for over 55% of the U.S. population. The purchasing power of middle-income families are a key barometer of real-time economic trends. Understanding middle-income households' purchasing power is important because it shows whether they are gaining financial ground or falling behind. The HBI™ data uses January 2019 as its baseline, with the value set to 100% at that point in time. Periodically, prior HBI™ values may be modified due to revisions in the CPI series and Consumer Expenditure Survey releases by the U.S. Bureau of Labor Statistics (BLS). Beginning with the December 2024 release of the index, the expenditure weights have been updated to the most recent (Q1 2024) data and auto insurance has been added to the group of necessity items. For more information, visit About Primerica, Inc. Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured over 5.5 million lives and had approximately 3.0 million client investment accounts on December 31, 2024. Primerica, through its insurance company subsidiaries, was the #3 issuer of Term Life insurance coverage in the United States and Canada in 2024. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol 'PRI'. For more information, visit
Yahoo
23-06-2025
- Business
- Yahoo
Barclays Raises Hanesbrands (HBI) Price Target, Keeps Rating
Hanesbrands Inc. (NYSE:HBI) is one of the 11 Best US Stocks to Invest in Under $5. On May 19, Barclays analyst Adrienne Yih raised the price target for Hanesbrands Inc. (NYSE:HBI) from $5 to $6 while keeping an 'Equal Weight' rating. This decision came after several meetings with the company's management, which provided important insights into how the company is doing and its future plans. A factory worker using modern technology to assemble a garment. Yih noted that the overall tone from these meetings was optimistic and management showed confidence in their strategy and the growth potential for Hanesbrands Inc. (NYSE:HBI). Despite industry challenges like intermittent tariffs, the company is seen to have handled these well. Yih expects no major supply chain disruptions from tariffs for the rest of the year. The reason for raising the price target on Hanesbrands Inc. (NYSE:HBI) was a change in the valuation multiple used to value the company, which moved from 9 times to 10 times. Hanesbrands Inc. (NYSE:HBI) is an American multinational clothing company that is known for its basics and innerwear brands. While we acknowledge the potential of HBI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-06-2025
- Business
- Yahoo
Republic Brands Case Spurs Nationwide Ban on RAW® Maker, Federal Court Orders HBI International to Change Packaging and Promotions
Decision Affirms Initial Ruling that Josh Kesselman Violated the Illinois Uniform Deceptive Trade Practice Act GLENVIEW, Ill., June 10, 2025 /PRNewswire/ -- In a sweeping rebuke of deceptive marketing, the U.S. Court of Appeals for the Seventh Circuit has upheld a nationwide permanent injunction against RAW® Rolling Papers maker HBI International. The ruling affirms the jury's finding that HBI and its founder Josh Kesselman misled consumers with false claims about its products. Rejecting HBI's attempt to limit the injunction to Illinois, the Court made clear: HBI's dishonesty is a national problem requiring a nationwide remedy. This punitive injunction resulted from a case brought by global rolling paper category leader Republic Brands, in which a jury found that HBI did violate the Illinois Uniform Deceptive Trade Practices Act and engaged in unfair competition in marketing RAW® rolling papers. In upholding the injunction, court documents point out that HBI and RAW have shown "a proclivity to attempt to evade court order." The documents further explain that "by mandating that HBI verify the accuracy of its factual statements—or otherwise use opinions—the district court crafted a remedy that it reasonably believed would deter future violations that it could "fairly" anticipate from HBI's conduct." The HBI marketing strategies that prompted the nationwide permanent injunction included a series of claims that Republic Brands successfully argued were not accurate: A portion of profits from RAW products goes to the non-existent "RAW Foundation," which uses those funds to save lives worldwide RAW organic hemp papers are made in Alcoy, Spain RAW organic papers are made with natural hemp gum RAW organic hemp papers are the "world's first" or "world's only" organic hemp rolling papers RAW organic hemp papers are made using wind power RAW organic hemp papers are "unrefined" HBI's owner, Josh Kesselman, invented rolling paper "cones" "This is more than a win for Republic Brands. It's a win for all rolling paper consumers who expect and deserve truth in advertising from the brands they purchase," said Republic Brands CEO Don Levin. "As the world's largest manufacturer of rolling papers and smoking accessories, we take our role as leaders seriously. We'll continue to fight for a level playing field where all parties act in good faith and engage in honest marketing and advertising practices." About Republic Brands®The world's leading rolling company, Republic Brands® holds the most extensive portfolio in the category including (OCB®, JOB®, e-z wider®, DRUM®, Premier®, Gambler®, and TOP® brands. Republic Brands is part of a family-owned company that is known for innovations such as sustainable bamboo, hemp and flax fiber papers and cones, its natural acacia gum, and internationally recognized ISO 9001, 14001 and 45001 and GMP standards. Media Contact:Trailblaze for Republic Brandsrepublicbrands@ View original content to download multimedia: SOURCE Republic Brands Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
